Did you read the rest of the KDR announcement? In particular,...

Did you read the rest of the KDR announcement? In particular, the para on p.2 in which they spell where the funding will be directed?

This might help you join the dots. Ask yourself why KDR management felt the need to spell out where the funding would be directed, but omitted LJ from the language.

Now I'm fully aware that the KDR announcement revolves around the JV with SQM. But don't think for one moment that KDR will commit any funds to fast-tracking using LJ unless their long-term JV partner is also on board with that idea. And if they (SQM) were on board one would have thought that there would have been language to deal with that in the JV agreement, which, in turn, would have been mentioned in today's announcement.

It's starting to look very much like LJ was only ever KDR's Plan B, in case the discussions with SQM came to nothing. Having SQM as a JV partner won't give KDR short-term cash flow, but (more importantly) it gives them credibility. And from that funding sources will flow. SQM won't be interested in short-term-ism. They're a long-game player. They've probably got one eye to a complete buy-out down the track, but that's not really relevant to this discussion.

Hats off to KDR management for having a Plan B.